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Hong Kong plans new crypto,infrastructure rules for insurers
The insurance regulator would impose a 100% risk charge on...
Life Insurance:India’s insured population jump from 15 crore to nearly 40 crore in a decade
Growth has been supported by increasing demand for group insurance,...
Allianz to exit 2 insurance JVs with Bajaj Group
Market sources pointed out Allianz plans to exit Bajaj Allianz Life Insurance Co. and Bajaj Allianz General Insurance Co. because its Indian partner isn’t allowing the German insurer to raise its stakes at a discounted price which was agreed upon at the time of...
Insurance industry can collaborate with telcos, e-comm, fintechs for deepening reach: LIC chief
Siddartha Mohanty, MD & CEO, LIC "Current channels, including agents, brokers, and bancassurance have been effective, but fraught with its own limitations given the challenge of taking insurance to each citizen of the country. Collaborating with non-traditional...
Panda seeks more conglomerates to enter insurance; Irdai nudging more cos to list
Debasish Panda, chairman, IRDAI The regulatory body's chief said more than consolidation, Irdai is working on growing the number of players in the industry and also held roadshows in Japan, Europe and the US recently where it told global investors about the...
GST on term life insurance premium, senior citizens’ health cover likely to be exempted
The GoM to decide on the GST rate on life and health insurance met on Saturday and decided to exempt GST on premiums paid for health insurance with coverage of Rs 5 lakh for individuals other than senior citizens. New Delhi: Goods and services tax (GST) on term life...
Singapore lawmakers amend bill to stop Allianz’s insurance deal
The move comes two days after the government — in a rare move — said it wouldn’t be in the public interest for the Income Insurance Ltd. transaction to go ahead in its current form. It wasn’t satisfied the firm can continue to fulfill its social mission as a...
CCI approves Central Bank of India’s proposed stakes acquisition in Future Generali Insurance ventures
Earlier, state-owned bank Central bank said it has been declared as the successful bidder by the Committee of Creditors (CoC) for the sale of Category 1 assets of FEL in Future Generali India Life Insurance Company and Future Generali India Insurance Company . New...
Actuary Sandip Goenka appointed as first CEO of ACKO Life
Sandip Goenka, chief executive officer, Acko Life Sandip,with two decades of experience in life, health, general insurance, reinsurance, and insurance consulting, is a qualified actuary from the Institute of Actuaries of India and the UK Actuarial Institute with a...
Jude Gomes appointed as MD & CEO of Ageas Federal Life Insurance
Jude Gomes, managing director & Chief Executive Officer, Ageas Federal Life Insurance Jude Gomes said, “We will establish new benchmarks and strengthen our position in India's insurance landscape. I look forward to our new journey of growth and success - together...
LIC launches single premium group micro term insurance plan
Life Insurance Corporation of India has introduced Single Premium Group Micro Term Insurance Plan with effect from Oct 07. This plan is a Non-Participating, Non-Linked, Group, Pure Risk, Life Micro Insurance product. With a flexibility to choose term from 1 month to...
BC Patnaik quits as Member, Life, IRDAI
BC Patnaik, Member, Life, IRDAI Recently, Patnaik, who retired as a managing director of LIC in March 2023, has been selected as the director, National Insurance Academy(NIA) , Pune and is expected to take over his new academic assignment in mid Nov...